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WSJ reheats Bitcoin's quantum hack concerns, researcher calls it a 'time bomb'

Author: Content Editor
The Wall Street Journal (WSJ) has warned that quantum computing poses a potential threat to the security of Bitcoin and the entire blockchain industry. Quantum computers have the ability to decipher private keys quickly, potentially rendering Bitcoin's security obsolete. The article highlighted concerns within the crypto community that a quantum hack could occur sooner than expected. A study projected that a global recession triggered by a quantum hack could lead to losses exceeding $3 trillion across crypto and traditional financial markets. The article also noted that Bitcoin addresses with exposed public keys, including those belonging to Satoshi Nakamoto, are vulnerable to a quantum hack. Despite the threat, experts believe there is still time to address the issue and create robust post-quantum cryptography. Tech giant Meta has been working on combining traditional algorithms with new technologies to develop security standards that will be resistant to quantum attacks.

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